S&P lowers Slovakia's rating to A, outlook stable.

By bne IntelliNews January 16, 2012
Standard & Poors downgraded on January 13, 2011 Slovakias long-term sovereign rating by one notch to A from A+ with a stable outlook, as part of its review on the ratings on 16 eurozone sovereigns, which resulted in downgrades for nine eurozone countries and affirmations of the ratings on seven others. The rating agency lowered the long-term ratings on Cyprus, Italy, Portugal, and Spain by two notches and the ratings on Austria, France, Malta, and Slovenia, by one notch, while the ratings on Belgium, Estonia, Finland, Germany, Ireland, Luxembourg, and the Netherlands were affirmed. "Today's rating actions are primarily driven by our assessment that the policy initiatives that have been taken by European policymakers in recent weeks may be insufficient to fully address ongoing systemic stresses in the eurozone," S&P said in a statement. Slovakia, together with Germany, are the only eurozone members with a stable outlook, while the outlook for the other 14 sovereigns are negative. Fitch Ratings has not revised Slovakias rating since July 8, 2008, which remains at A+ with a stable outlook. Moodys Investors Service last changed the outlook on the countrys rating from positive to stable on March 27, 2009, maintaining its rating on Slovakia at A1.

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